Use Mink Realty as your Buyer’s agent and I will give you 50% of my commission at closing!

 

 

 

 

How Does the home buyer rebate work?

 

When a seller lists their home for sale with a Realtor they usually agree to pay 6% (commission varies) commission at closing. Half or typically 3% goes to the listing agent & the other half or 3% goes to the buyers agent (Mink Realty).  I simply split my commission with you as an incentive for you to work with me!   If the listing agent gives only 2 1/2% cooperating commission, Mink Realty receives 1 1/2% and the buyer receives 1%.  However I do NOT show you homes.  You have to do your own homework and narrow down the homes that you are interested in.  If you are willing to do the work yourself to find the home that you want to purchase, then we can work together to help you save money when buying your next home.

 

Mink Realty’s Responsivities:
1.Perform terms of this Agreement
2.Provide sellers disclosure forms to buyer for interested properties
3.Prepare the offer and present to the listing agent in a timely manner
4.Prepare all written counter offers between the buyer and the listing agent
5.Provide electronic signature program for ease of signing documents for the buyer
6.Work with the Listing Agent throughout the transaction
7.Coordinate home inspection with listing agent once buyer has scheduled inspections
8.Prepare formal repair request and submit to listing agent once buyer has submitted their detailed list of repairs to Mink Realty
9.Assist the Buyers in meeting all the contractual timelines spelled out in the purchase
10.Work with the Title Company to assist in getting to the closing table
11.Mink Realty does NOT attend closings – it is not necessary!
12.Mink Realty does not attend home inspections or view the home in any way
13.Mink Realty does not show homes to Buyers. The listing agent must agree to show the home or the buyer must attend an open house to gain access. Mink Realty does not gain access to the home for the buyer once there is an accepted contract. Mink Realty does not go to the home for any reason!
 
Buyer’s Responsibilities:
1.Buyer must call and inform the listing agent that you are represented by Mink Realty and have signed a buyer brokerage agreement with me.
2.Buyer must call the listing agent and ask them to show their listing to you or you can attend open house
3.Buyer must be pre-approved or have proof of funds if paying CASH
4.Buyer must schedule a home inspection with a home inspection company of their choice and let me know the date and time so I can coordinate     that with the listing agent. This includes any home, termite, radon, septic, roof, specific HVAC or any other specific inspections that need to be done   inside the inspection time frame set forth in the purchase contract.  You can preview the property during the home inspection.
5.Buyer must email me a detail LIST of specific items they would like to include in the repair request. They may ask the seller to make such repairs   OR they may ask for a price reduction in lieu of repair (which I recommend). I will copy and paste your request onto a “formal repair request” and   send it to you to sign electronically”. This must be completed within the time frame that is stated in the purchase contract.
 
Buyer Rebate Steps:
Step 1 – Sign the Buyer Rebate Contract with Mink Realty.  The buyer agrees to work exclusively with Donna Mink as your Buyer’s agent.  In return                 Mink Realty will forgo 1/2 of my commission back to the buyer at closing. The cooperating commission must be 3% in order for me to give back 1/2.   Once buyer finds a home that they are interested in seeing, they should call the listing agent and ask them if they are having an open house.  If they are not, ask them if they would be willing to show you their listing in my absence.  Tell them that you have signed a buyers brokerage agreement with Donna Mink.  Be aware that some listing agents may not be willing to show you their listing without a buyer’s agent.  If they are not, you must be willing to walk away unless you are willing to put in an offer “sight unseen” and view the property during your home inspection.  You can always walk away after the home inspection is completed and receive a full refund of your earnest money deposit.
Step 2 – When you find a home that you want to put an offer on, go to my website and click on step 2 to fill out the Purchase Contract details.  Once you have completed the terms of the offer, I will write up the offer and send it to you to review and sign electronically.  Once signed, I will forward to the listing agent and let you know when they confirm receipt.
Step 3 – When you have an accepted purchase contract, you must then complete step 3 disclosing the buyers rebate commission amount.  This form goes to the title company so they will know how much money Mink Realty receives and how much goes to the buyer at closing.